KMG increases oil and gas production

Oil&Gas Materials 26 January 2011 12:20 (UTC +04:00)

Kazakhstan, Astana, Jan. 26 / Trend A.Maratov /

Based on operational data, consolidated oil and condensate production at KazMunaiGas (KMG) amounted to 22 million tons in 2010, which is four percent more than the planned volume and 17 percent more than in 2009, the company reported.

"The volume of oil transportation through main pipelines was 65.8 million tons, which is four percent above the plan and three percent higher compared to 2009. Oil deliveries by maritime transport amounted to 7.1 million tons, exceeding the target indicator by 1 percent," the company said.

In 2010, 14.8 million tons of oil were refined, which is two percent above the plan and 16 percent higher than the 2009 figure.

A total of 99.7 billion cm of gas were transported during the reporting period, six percent above the plan and nine percent more than in 2009, the company reported.

In 2011, KMG plans to produce over 22.1 million tons of oil.

KMG is Kazakhstan's national operator for the exploration, production, refining and transportation of hydrocarbons, representing the state's interests in the oil and gas industry of Kazakhstan. The company is owned by the Samruk-Kazyna National Welfare Fund.